Your customers determine the market potential?
One of the most popular mistakes is: The salesperson knows how much the customer buys with him and calculates his needs and the market potential. If a cattle-feeding vendor in a village knows five farmers and who each sell enough food for 50 cows, he concludes that there are cows in this village.
There are perhaps two other farmers, of whom he knows nothing. And the ones he knows have in reality 100 cows - they only buy part of the feed somewhere else.
The market potential can be seen from the paragraph?
Classic misapprehension: The market potential can be identified by means of the seller's sales. The market is much, much bigger. For my area, training, I've looked at the numbers closely. The Institut der Deutschen Wirtschaft in Cologne says that the German training volume is 67 billion euros.
So if all the trainers in Germany each year hold trainings, lectures and seminars worth 67 billion euros, the turnover of my company is only a tiny crumb of it! In other words, if something limits our growth, then certainly not the market.
How do you find the real market potential?
How do you figure out how big your market potential really is? Look for independent sources and information. For example, the trade directory. Or ask the municipal or regional business associations.
But also, if you have an eye on the market being bigger than your personal cake piece, you can still experience a second serious thinking mistake: believing that when the cake shrinks, your piece of it must also shrink proportionally.
Example Reinhold Würth
Reinhold Würth saw this differently. I was able to attend 2004 at a lecture, where he told a meeting with his leaders. They told him that our current goals are no longer achievable in the current recession.
Reinhold Würth got up, went to the flipchart and painted a vertical line: "This is the overall market. Our market share of this is about six percent. "And he contributed the market share of the Würth Group at the bottom of the line. Then he stroked a bit off the long line from above.
Focus on what is there
"In a recession, consumption falls by six to eight percent. But there still remains between our share and the remaining consumption 86 to 88 percent of the original market. What about it? "His executives looked at each other speechless. "Well, those are the competitors' market shares."
"And? That does not mean that they are unreachable. We are not focusing on what is going away in the recession, but on what's left. Go out and get the contest! "That left my mouth open. The man simply does not accept limitations. I liked that.
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